The Descartes Systems Group Inc. (NASDAQ:DSGX) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 19.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 559,312 shares of the technology company’s stock after selling 131,167 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.65% of The Descartes Systems Group worth $57,587,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Canandaigua National Bank & Trust Co. bought a new stake in shares of The Descartes Systems Group during the second quarter valued at about $295,000. Envestnet Portfolio Solutions Inc. raised its position in shares of The Descartes Systems Group by 52.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,474 shares of the technology company’s stock worth $1,014,000 after buying an additional 3,605 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of The Descartes Systems Group by 4.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,832 shares of the technology company’s stock worth $371,000 after acquiring an additional 158 shares during the period. Ellsworth Advisors LLC bought a new position in shares of The Descartes Systems Group in the second quarter valued at approximately $527,000. Finally, Portside Wealth Group LLC acquired a new position in shares of The Descartes Systems Group during the second quarter valued at approximately $367,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of DSGX opened at $116.02 on Wednesday. The company has a market capitalization of $9.92 billion, a PE ratio of 78.39 and a beta of 0.98. The company’s 50 day moving average price is $108.71 and its 200 day moving average price is $101.68. The Descartes Systems Group Inc. has a 52 week low of $79.21 and a 52 week high of $118.49.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The Descartes Systems Group had a net margin of 21.02% and a return on equity of 10.21%. The company had revenue of $163.43 million for the quarter, compared to analysts’ expectations of $160.17 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company’s revenue was up 14.0% on a year-over-year basis. On average, equities analysts forecast that The Descartes Systems Group Inc. will post 1.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DSGX. StockNews.com cut The Descartes Systems Group from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada lifted their target price on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, November 29th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $88.00 to $125.00 in a report on Friday, November 15th. BMO Capital Markets lifted their price objective on shares of The Descartes Systems Group from $100.00 to $104.00 and gave the stock a “market perform” rating in a research note on Thursday, September 5th. Finally, National Bank Financial raised shares of The Descartes Systems Group to a “strong-buy” rating in a research note on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $110.75.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.